In a sample of credit card holders the mean monthly value of credit card purchases was $ 329 and the sample variance was 78 ($ squared). Assume that the population distribution is normal. Answer the following, rounding your answers to two decimal places where appropriate. (a) Suppose the sample results were obtained from a random sample of 11 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders. ( , ) (b) Suppose the sample results were obtained from a random sample of 23 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders. ( , )
In a sample of credit card holders the mean monthly value of credit card purchases was $ 329 and the sample variance was 78 ($ squared). Assume that the population distribution is normal. Answer the following, rounding your answers to two decimal places where appropriate.
(a) Suppose the sample results were obtained from a random sample of 11 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders.
( , )
(b) Suppose the sample results were obtained from a random sample of 23 credit card holders. Find a 95% confidence interval for the mean monthly value of credit card purchases of all card holders.
( , )
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